Lockheed offers buyouts to employees; layoffs possible

Feb. 5, 2013 - 01:56PM
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Lockheed Martin is offering buyouts to midlevel managers in its information systems and global solutions unit, a company spokesman confirmed Tuesday.

An unspecified number of eligible employees have until the end of the month to volunteer for layoffs. If approved by the company, those employees must leave Lockheed by March 22, said spokesman Keith Mordoff.

Mordoff said the voluntary layoffs were not prompted by looming sequestration budget cuts, but Lockheed’s information systems and global solutions unit is assessing the potential impacts of sequestration to its business, programs and customers.

“The reduction in force is designed to best position the business to remain competitive and operationally efficient, providing the most affordable solutions to our customers,” Mordoff said.

Lockheed is looking to reduce its workforce by 300 to 350 employees, he said. It isn’t clear over what time period.

Mordoff would not say how many of the select group of midlevel managers are eligible for buyouts or how many will be selected to receive them. Those selected will receive severance benefits, he said.

Technology career site Dice News first reported the buyouts Monday. Citing an unnamed source, Dice reported that there may be layoffs if enough managers do not leave voluntarily.

In an internal company memo obtained by Dice, unit leaders were told that certain employees working in the areas of defense and national operations are eligible to participate.